Arkadios Wealth Advisors Increases Stake in Enbridge Inc $ENB

Arkadios Wealth Advisors raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,264 shares of the pipeline company’s stock after purchasing an additional 2,468 shares during the period. Arkadios Wealth Advisors’ holdings in Enbridge were worth $646,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Daymark Wealth Partners LLC increased its stake in shares of Enbridge by 27.6% in the second quarter. Daymark Wealth Partners LLC now owns 16,024 shares of the pipeline company’s stock worth $726,000 after purchasing an additional 3,462 shares in the last quarter. Bank of Jackson Hole Trust grew its stake in Enbridge by 11.6% in the 2nd quarter. Bank of Jackson Hole Trust now owns 9,702 shares of the pipeline company’s stock valued at $440,000 after buying an additional 1,010 shares in the last quarter. Jennison Associates LLC grew its position in shares of Enbridge by 16.8% in the second quarter. Jennison Associates LLC now owns 1,303,071 shares of the pipeline company’s stock valued at $59,130,000 after purchasing an additional 187,637 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of Enbridge by 4,273.9% in the second quarter. Auto Owners Insurance Co now owns 179,110 shares of the pipeline company’s stock valued at $8,117,000 after purchasing an additional 175,015 shares in the last quarter. Finally, Advisory Alpha LLC grew its position in shares of Enbridge by 17.0% in the second quarter. Advisory Alpha LLC now owns 7,322 shares of the pipeline company’s stock valued at $332,000 after purchasing an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Down 0.0%

Shares of NYSE ENB opened at $46.60 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm has a market capitalization of $101.64 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 4.31 and a beta of 0.78. The business has a 50-day moving average of $48.35 and a 200-day moving average of $46.72.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the company earned $0.58 EPS. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.